In a bind
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Elder User
Joined: Dec 2004
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From: Eastern Iowa
In a bind
I have a pickup, Expie, and a Galaxie. Pickup and Galaxie are paid off. Still owe on the 2001 EB Expedition. Gas is KILLING us! I don't own a single vehicle except my Adidas that gets better than 15 mpg. I hate to do it, but I think the Expie's gotta go. We both just love it, but we put about 300 miles per week on it. And fuel is costing us nearly as much as the payment. So my question is....should we go to the dealer while the family plan is still in effect, and trade the expy in on a new focus, or look for a used one? Is there anything else in the ford lineup that is really economical and cheap? I can't seem to come up with a plan. We want to either reduce our payment, or keep it the same. BTW our payment is 418$ per month. And we owe roughly 10k on the expy.
Last edited by ARMORER; Sep 12, 2005 at 02:36 PM.
Lead Driver
Joined: Apr 2002
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From: Tampa Bay, FL USA
Since you want to trade what is currently the LEAST-popular Ford for the MOST popular, yes, you're in a bind. You're gonna think the dealers are trying to steal your Expedition, but they're just running scared like everyone else. I think you can probably get out of the Expy without having to carry over a lot into the new vehicle (but I can't see it from where I'm sitting), and the payment you want shouldn't be a problem. Honestly, my best advice: wait just a little. If the current gas price situation turns out to be a bubble and the price drops to say, $2.50/ gallon, in the next few months, trading now could be a HUGE mistake. It's the equivalent of buying high and selling low in the stock market; the only one that makes any money is the broker (or dealer).
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Elder User
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From: Eastern Iowa
Originally Posted by 1956MarkII
Since you want to trade what is currently the LEAST-popular Ford for the MOST popular, yes, you're in a bind. You're gonna think the dealers are trying to steal your Expedition, but they're just running scared like everyone else. I think you can probably get out of the Expy without having to carry over a lot into the new vehicle (but I can't see it from where I'm sitting), and the payment you want shouldn't be a problem. Honestly, my best advice: wait just a little. If the current gas price situation turns out to be a bubble and the price drops to say, $2.50/ gallon, in the next few months, trading now could be a HUGE mistake. It's the equivalent of buying high and selling low in the stock market; the only one that makes any money is the broker (or dealer).
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Elder User
Joined: Dec 2004
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From: Eastern Iowa
Originally Posted by Mr. PC
Why don't you move into the Expedition and sell your house? 
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Lead Driver
Joined: Apr 2002
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From: Tampa Bay, FL USA
I don't know if it will REGAIN value, but the current free-fall should stop and the prices will level off, IMHO. I agree, the Expy is a great vehicle, but I can't give them away right now. Hey, ya gotta do what ya gotta do, but such a transaction will cost you a LOT of money; will the lose-your-shirt-on-the-Expy/ pay-through-the-nose-for-the-Focus scenario be worth it in fuel savings? I hope you've calculated that before moving ahead.
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Elder User
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From: Eastern Iowa
One other thing that I didn't mention in the first post is that my wife and I are having our first child in 5 weeks. That will put us down to one income, and she makes a decent amount of money! That is why we are looking for solutions fast! The fuel savings and reduced monthly payment will really help offset the reduction in our income. But I do understand that the net result will be a big time loss on the expy. We got a good deal for it initially, though. We got it when it was only 3 years old, with 70,000 miles on it, and paid less than 15k for it.............
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I'm in the same boat as you Armorer. Got the first kid due in 5 months. Got the F-150 last year. Now gas payments are $80 a week! I pay far more in gas than the $200 a month payment on the truck! Wife needs something better and safer to get around in than her 98 civic 2 door!
But, taking a 10K loss on the truck trade in doesnt seem right. 10K is a lot of gas. I could drive the civic and park the truck, but what fun is that? And I'd still have to buy the wife something safer.
I will probably see if the local honda dealer will give me an agressive trade on the truck toward a CRV and an Accord. Maybe they will offer more for trade in on purchase of 2 vehicles...
If I could be assured gas would go down to $1.50 a gallon again I'd keep the truck and wait.
The cost of living seems to have skyrocked the past 6 months!
But, taking a 10K loss on the truck trade in doesnt seem right. 10K is a lot of gas. I could drive the civic and park the truck, but what fun is that? And I'd still have to buy the wife something safer.
I will probably see if the local honda dealer will give me an agressive trade on the truck toward a CRV and an Accord. Maybe they will offer more for trade in on purchase of 2 vehicles...
If I could be assured gas would go down to $1.50 a gallon again I'd keep the truck and wait.
The cost of living seems to have skyrocked the past 6 months!
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Joined: Jul 2004
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From: Park Ridge, Illinois
My new F350 is the first nice vehicle I have had in a long while. Most of the time I pick up older Hondas or Toyotas with 120K on them. They usually run to 200K with minimal expenses. You could park the Expi if you really like it, dump the pick-up and use a older car for work. The MPG goes way up and the payments, if any are minimal. Good luck!! Tough decision no matter which way you go.
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From: Tampa Bay, FL USA
Originally Posted by bimmerbill
..I will probably see if the local honda dealer will give me an agressive trade on the truck toward a CRV and an Accord. Maybe they will offer more for trade in on purchase of 2 vehicles...
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Yeah, you are probably right Jeff. That's why I haven't swung by the dealership and talked numbers yet...
Does anyone think the resale/trade value of all our trucks will go back up after all the family programs end?
Or has supply = demand, like with Harley. I'm trying to sell my Harley too, but supply is way up, and prices are way down! Ahh, where are the good old days when you could sell your bike for what you paid for it a few years later!
Does anyone think the resale/trade value of all our trucks will go back up after all the family programs end?
Or has supply = demand, like with Harley. I'm trying to sell my Harley too, but supply is way up, and prices are way down! Ahh, where are the good old days when you could sell your bike for what you paid for it a few years later!